Embecta Corp. $EMBC Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 12.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,974 shares of the company’s stock after selling 11,551 shares during the period. Teacher Retirement System of Texas owned about 0.14% of Embecta worth $775,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in Embecta by 16.9% during the first quarter. American Century Companies Inc. now owns 3,813,411 shares of the company’s stock valued at $48,621,000 after buying an additional 551,477 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Embecta by 0.7% during the 2nd quarter. William Blair Investment Management LLC now owns 1,992,604 shares of the company’s stock valued at $19,308,000 after acquiring an additional 14,232 shares in the last quarter. Jefferies Financial Group Inc. raised its position in shares of Embecta by 60.1% during the 1st quarter. Jefferies Financial Group Inc. now owns 573,000 shares of the company’s stock valued at $7,306,000 after acquiring an additional 215,000 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Embecta by 15.1% during the second quarter. State of Alaska Department of Revenue now owns 401,112 shares of the company’s stock worth $3,885,000 after purchasing an additional 52,566 shares during the last quarter. Finally, Meros Investment Management LP boosted its holdings in Embecta by 37.2% in the first quarter. Meros Investment Management LP now owns 339,406 shares of the company’s stock worth $4,327,000 after purchasing an additional 92,094 shares during the period. 93.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Embecta in a report on Wednesday, October 8th. BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Embecta in a research report on Friday, September 5th. Wall Street Zen raised shares of Embecta from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 16th. Zacks Research lowered Embecta from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, Mizuho dropped their price target on Embecta from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.00.

Embecta Stock Performance

NASDAQ:EMBC opened at $13.79 on Friday. The stock has a market cap of $806.58 million, a price-to-earnings ratio of 9.64, a PEG ratio of 0.75 and a beta of 1.10. Embecta Corp. has a 1 year low of $9.20 and a 1 year high of $21.48. The business has a fifty day moving average of $14.20 and a 200-day moving average of $12.31.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings data on Friday, August 8th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.35. The business had revenue of $295.50 million during the quarter, compared to the consensus estimate of $278.15 million. Embecta had a net margin of 7.58% and a negative return on equity of 23.40%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 earnings per share. On average, equities research analysts predict that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Profile

Embecta Corp., a medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes. Its products include pen needles, syringes, and safety injection devices, as well as digital applications to assist people with managing patient's diabetes.